#SP500 #GOLD The day after we discussed trading internationally, the need arose to purchase something from Canada, hence GBPCAD. The initial urge, just to pay, was somehow suppressed to give time for a look at the currency pairing.
Presently trading around 1.74, the relationship needs strengthen above 1.77 to confirm the potential of recovery to an initial 1.783 with secondary, if exceeded, up at 1.85. Visually, each ambition makes a degree of sense with the secondary, if achieved, taking the pair into a zone with longer term possibilities at 1.97.
Needless to say, the option “Buy It Now” was quickly chosen, realising the probable potential of 1.85 made little difference when considering spending 270 Canadian Dollars on an obscure electronic item!
FTSE for FRIDAY The market feels a bit odd, the FTSE ending Thursday really feeling like it wants to reverse a bit further. This is quite at odds with US markets, all of which feel they want to strength a bit. Friday should prove interesting as surely one shall influence the other, giving a clue as to where the underlying trend presently lies.
Near term, the FTSE (and please remember we are talking about the London market during trading hours only) calculates as capable of some reversal, should the index wander below 6008 points. A movement such as this risks triggering reversals to an initial 5949 points with secondary, if broken, working out at 5900 points.
In fairness, we need to mention this sort of calamity takes the market into a position where, in the absence of miracles, ongoing travel to a hopeful bottom of 5770 points is possible eventually.
The converse side, comes should the FTSE somehow manage above 6046 points. Such a scenario allows for slightly useless recovery to an initial 6058 points with secondary, if exceeded, calculating at a rather more useful looking 6098 points. This would certainly undo the poison of the last few sessions, leaving the FTSE poised for 6140 and beyond.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:46:43PM | BRENT | 45.34 | 44.4 | 44.155 | Subscribe | 45.42 | 45.48 | 45.885 | Subscribe | 45.13 | Shambles |
| 9:48:53PM | GOLD | 1949.27 | 1925 | 1921.5 | 1947 | 1956 | 1964 | 1937 | ‘cess | ||
| 9:54:29PM | FTSE | 6022.91 | 6008 | 5955 | 6057 | 6036 | 6046 | 6009 | ‘cess | ||
| 9:58:52PM | FRANCE | 4918.8 | 4885 | 4881 | 4930 | 4939 | 4954 | 4900 | ‘cess | ||
| 10:01:37PM | GERMANY | 12869 | 12782 | 12747 | 12881 | 12893 | 12950.5 | 12782 | Success | ||
| 10:07:13PM | US500 | 3386 | 3369 | 3354 | 3392 | 3389 | 3393 | 3374 | |||
| 10:20:54PM | DOW | 27745 | 27499 | 27397.5 | 27635 | 27781 | 27838 | 27680 | Success | ||
| 10:23:27PM | NASDAQ | 11487 | 11350 | 11299 | 11440 | 11503 | 11535.5 | 11350 | Success | ||
| 10:27:03PM | JAPAN | 22962 | 22837 | 22727.5 | 23000 | 23076 | 23108.5 | 22922 | ‘cess |